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“One thing that occurs to me is the behavior of the tobacco companies denying the connection between smoking and lung cancer for the sake of profits, but this is an order of magnitude greater moral offence, in my opinion, because what is at stake is the fate of the planet, humanity, and the future of civilisation, not to be melodramatic.”

Nicholas Stern, an eminent climate economist at the London School of Economics, said: “This very important analysis shatters the myth that fossil fuels are cheap by showing just how huge their real costs are. There is no justification for these enormous subsidies for fossil fuels, which distort markets and damages economies, particularly in poorer countries.”

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